12 Jun

Taiwan and Thailand Indexes Rise as Other Asian Indexes Fall

WRITTEN BY Mayur Sontakke, CFA, FRM

Indian indexes

After rising yesterday, both the key Indian indexes fell today. The S&P BSE Sensex retreated by 0.48% to end the day at 39,756.81. The index fell sharply in early trading and remained choppy thereafter. The NSE Nifty 50 followed a similar trajectory to end 0.5% lower. Infosys (INFY) gained marginally today. Major India-focused ETFs hold Infosys in their portfolio.

India-focused ETFs and stocks

On June 11, the WisdomTree India Earnings Fund gained 0.23%. The iShares MSCI India ETF (INDA) gained 0.31%, while the iShares India 50 ETF (INDY) remained steady. Infosys accounts for 7.2%, 7.4%, and 5.8% of EPI, INDA, and INDY’s holdings, respectively. EPI, INDA, and INDY have returned 6%, 7.5%, and 9.75%, respectively, so far in 2019.

Other markets and ETFs

Taiwan’s Taiwan Weighted Index and Thailand’s SET Composite Index gained marginally amid a red day for Asian stocks. The Taiwan Semiconductor Manufacturing Company (TSM) gained 0.61% on the Taipei Stock Exchange today. TSM was up 0.38% in pre-market trading at 6:13 AM EST on the NYSE. Yesterday, the iShares MSCI Taiwan ETF (EWT) gained 0.42% on NYSE Arca. TSM forms 21.5% of the ETF.

Indonesia’s Jakarta Composite Index lost 0.47% today to break the winning streak. Yesterday, the Indonesia-focused iShares MSCI Indonesia ETF (EIDO) gained 0.62%, mimicking the index.

American index futures were in the red at 7:51 AM EST.

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